
Bilibili Inc.9626 2 0 2 51 23 1 202512312024 20251231 303.513%100.623% 111.127%202432.7%36.6% 11.9202413.63.9%20245.1% 25.9202439.08.5%20240.1% 111.68% 2025 20251.123.688%10820246 20253,40010023%202526 202513%303.527%202432.7%36.6%202511.9202413.6 AIAI(LLMs)AIGCAIAI 2025ACG55%20%AI73%19%16%2025780 202540015%2,400AI2025UP20%UP2025300UP21%1,000 2025108614%20252.841280%20257Bilibili WorldBilibili Macro Link4060%2025 2025 20258%119.3202525.312%80% PUGV2025PUGV 202523%100.6 2025AI150% AILLMsAI 202514%63.9202510 202510300 20255690.020300.625%678.1 5,588,140Z782.9100.02025Z 20252026PUGV AI2026AIAI 303.5202413% 119.320248% 100.6202423% 63.9202414%20252025 IP IP19.720243% 192.320247%120.9202412% 111.1202427% 99.920241% 43.92024 20.62024 35.320244% 11.2202413.4 24.4202460.8 83.6202456.2 17.1202436.5 11.9202413.6 25.9202439.0 20251231241.520241231165.42030678.1 71.5202460.1 20251231 20251231 2022103C1 C.2.1 F.1.1202571 C3 3.21JP Gan 20251231 2025123120251231 20241126.2114.82025123168.8 20251231 20251231 Y202412310.0001100,000,00083,715,114202512310.0001100,000,00079,700,010Z202412310.00019,800,000,000337,546,303332,838,671202512319,800,000,000341,134,100335,018,102 1. 201312 2018420213Z 2022103 2023126.6515,344,000396.927331.222202612384.80.50% 2. 3. 202420251231 336611 4. 202420251231 336611 5. IP 6. 202420251231 7. 202420251231 2024123120251231 7. 20241231828,3362,096,4858,432,613 202512311.22.0 202420251231 8. 202420251231 (www.hkexnews.hk)(https://ir.bilibili.com/)20251231 1995 202635 JP Gan